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Switzerland Retail June 2023

Switzerland: Retail sales expand at quickest pace since September 2022 in June

Retail sales expanded 1.8% year on year in calendar-adjusted terms in June, which contrasted May’s 0.9% decrease. June’s print marked the best reading since September 2022. The reading reflected a broad-based upturn, with activity in the food, beverages, and tobacco, household equipment and culture and recreation goods sub-sectors all improving in June.

On a monthly basis, retail sales increased 1.8% in seasonally adjusted terms in June, which was below May’s 2.2% expansion. Meanwhile, the trend improved modestly, with the annual average variation of retail sales coming in at minus 0.8% in June, up from May’s minus 1.0% reading.

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